After the implementation of Unified Payment Interface (UPI) switches in India, the participating Banks/Financial Institutes require highly scalable, fault tolerant and reliable platform to cater high volume of transactions on behalf of banks or financial institutions. With the recent changes in the Indian payments landscape triggered by demonetization and the push for digital transactions, the volume of UPI transactions increased ten times over a period of just couple of years and promises to grow further. Unfortunately, existing UPI infrastructures for most banks are not adequate to cater to this exponential growth.
RS Software did the market research and found that Banks/ Financial Institutes are lacking such a platform. Looking into the market needs, we developed multi-tenant-based platform to provide different services in Software-as-a-Service (SaaS) model.